Ethiopia: World Bank approves $860ml for job creation

0
157
The World Bank

The World Bank has approved $860 million credit in support of the Government of Ethiopia’s effort to create more jobs in infrastructure projects across 117 cities of the country.

During the launch of the program, World Bank Program Leader, Anne Bakilana said that over seven million Ethiopians would benefit from the World Bank’s Urban Institutional and Infrastructure Program, which would run for five years starting from March, 2018.

“Ethiopia is urbanizing rapidly and has one of the fastest growing urban populations in the world. The government’s current policies of industrial development and promoting rural-urban linkages present good opportunities for promoting more balanced regional growth through the creation of a linked system of cities,” she emphasized.

Ethiopia’s Urban Development and Housing Minister, Jantirar Abay said strong political commitment both at federal and regional levels was crucial to attain the desired goals of the program and benefit the society at large.

“Taking the successful lessons and filling some of the gaps, everyone with sense of ownership should strive to realize it,” he said

According to him, budget allocation will be in accordance with the evaluations of cities by independent organizations that are related to transparency and accountability of capital investment.

“The Program will enhance the institutional performance of participating urban local governments to develop and sustain urban infrastructure, services, and local economic development,” Finance and Economic Cooperation Minister, Abraham Tekeste said.

Peace PIAK